Secondaries-focused PA Capital joined forces with New York Life’s private equity affiliate GoldPoint Partners and lender Madison Capital Funding, rebranding as Apogem Capital in April.
Some large processes are hitting delays as pricing is shifting in the changing markets, and building large enough syndicates for mega-deals has become challenging.
The Chicago-based manager will target opportunities where it has an informational advantage that allows it to profit from 'value arbitrage', according to secondaries head Jeff Akers.
The deal is among a handful of GP-led secondaries processes that have moved through the market, which has become more challenging because of pricing uncertainty.